Ronald Sorenson, manager of the Reaves Utility Income Fund(UTG Quote), says he's focusing on utilities with the best potential to benefit from low interest rates and economic stimulus programs. They include AT&T (T Quote), ITC Holdings (ITC Quote) and American Water Works (AWK Quote).
"Electric utilities, the largest concentration in our portfolio, came roaring back last week, and telephones did well too," Sorenson says. His closed end fund gained 12% in the five trading days ending Thursday, topping the average utility fund, which rose 8.2%.
Sorenson's firm, W.H. Reaves & Co., founded by William Reaves in 1961, specializes in utility research. His fund invests in telephone, gas, electric and water companies, which continue to boost earnings and generate dividends. ...
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